Reddit Ads, Better Than Facebook Ads!?
Facebook was long considered the untapped gold mine for advertisers. Costs-per-click were incredibly undervalued and targeting was so incredibly specific, you could narrow an audience down to almost a single person. Today, costs-per-clicks are still undervalued but some of the targeting methods have been removed due to privacy concerns. Luckily, Reddit is right there to pick up the slack. With Reddit Ads, you’re able to advertise in highly specific communities called Subreddits at that same incredible inexpensive cost-per-click.
What Do They Look Like?
Reddit Ads come in two styles:
These ads are shown within the feed of other submissions in the targetted Subreddit.
These ads are shown at the top of the homepage and on the sidebar of the targetted Subreddits.
UPDATE: Reddit Ads have launched video ads! (10/1/2018). From Reddit:
video with the following specs:
Format: MP4, MOV
Max length: 15 minutes
Recommended aspect ratio: 1.91 : 1
Max file size: 1 GB
New Video Engagement Metrics
Track and monitor your video ad performance in the Reddit ads dashboard with the following video engagements:
CPV: Total ad spend/ total number of video views
Video Views: view for 2 continuous seconds at 50% viewability (MRC)
Full Video Views: view for 3 continuous seconds at 100% viewability (MRC)
Plays with Sound: number of times a video was played with the sound on
Plays Expanded: number of times a video was played in expanded (full-screen) mode (at any point during which the user was watching the video)
25/50/75/95/100% Watches: views at 25/50/75/95/100% of video length at any viewability
Video Starts: number of times a video starts playing
3/5/10 Second Views: number of times a video was watched for 3/5/10 seconds in aggregate at any viewability
Is It Worth The Investment?
Reddit Ads are still relatively new but initial tests are showing good results. Currently, you’re only able to bid on impressions, but the average cost per 1000 impressions is at about $2.00. So if you’re able to get a click-through-rate of 0.5%-1.5% (a normal CTR as reported by a Reddit Ads employee), you’re looking at a cost-per-click of just $0.13-$0.40!!! That’s noticeably lower than Facebook (average CPC of $0.30-$0.60, AdEspresso) and Google (average CPC of $1.16-$6.75 for Search and $0.44-$1.49 for Display, Wordstream).
Is It Right For Your Business?
If you would like to learn more about Reddit Ads or to see if it is the right fit for your business, contact me for a free 30-minute consultation. I’ll get your coffee and we can see if Reddit Ads will be able to help grow your business and improve your sales.